From the Editor...

The Columbia Funds boardroom is preparing for the chairmanship to change hands at the turn of the year when long-serving independent director and current chair Edward Boudreau retires. Boudreau has served for well over a decade as a director and has seen both great change and sustained themes during that time. In our interview with Boudreau, we provide insight into his views from inside the boardroom and look at what's next for the Columbia Funds board—whether his empty seat will be filled, who will take over as chair, and more. Be sure to read A Seat at the Table with Ed Boudreau.

Changes are also afoot in the boardrooms of Legg Mason's funds. The Baltimore firm is asking shareholders to vote next month on the consolidation of the two boards that oversee Western Asset Management Co. funds. The move, should it be approved, would result in a single board overseeing all the WAMCO funds and a reduction in director headcount. 

Another great read is our latest Viewpoints from Dechert LLP's Mark Perlow, Stephanie Capistron, and Margaret Wilson. The three explore board oversight responsibilities when it comes to non-fully transparent exchange-traded funds, and the piece is packed with great information for fund directors overseeing—or preparing to oversee—these types of funds.

Finally, take a look at our latest 10 Things, which covers some of the issues that keep fund directors up at night (or at least occupied during the day). We're always looking for Viewpoints writers and ideas for future 10 Things. Please drop me a note or give me a call if you've got an idea or suggestion. We love to hear from you! 

For now, 

Hillary Jackson, founding editor